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kkurt [141]
3 years ago
5

The operations process includes which of the following activities?

Business
1 answer:
Nutka1998 [239]3 years ago
4 0
The operations process for what

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On January 1, 2021, the Excel Delivery Company purchased a delivery van for $111,000. At the end of its five-year service life,
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Answer:

Annual depreciation = $44,400

Explanation:

Given,

Purchase price of the delivery van = $111,000

Salvage value = $11,400

Useful Life = 5 years

We know that

annual depreciation under double declining balance (%) = (100%/useful life)*2

Putting the value in the formula, Annual depreciation (%) =   (100%/5)*2

                                                                                               = 40%

Annual depreciation = Purchase Price*Percentage of annual depreciation

Annual depreciation = $111,000*40% = $44,400

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4 years ago
Explain the four basic elements of all economic systems.
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Answer: They are personal consumption, business investment, government spending, and net exports.

Explanation:

6 0
3 years ago
Bargain Central Furniture, Inc., completed the following treasury stock transactions:
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Answer:

Bargain Central Furniture, Inc.

R1) Journal entries:

a) Debit Treasury Stock with $1,300

Debit Additional Paid-in Capital with $6,500

Credit Cash Account with $7,800

To record purchase of 1,300 shares of common stock, $1 par at $6 per share.

b) Debit Cash Account with $6,300

Credit Treasury Stock with $700

Credit Additional Paid-in Capital with $5,600

To record resale of 700 shares for $9 per share.

R2) Bargain Central Furniture, Inc.

Balance Sheet as at December 31, 2010:

Treasury Stock $600 ($1,300 - $700)

Explanation:

Treasury Stock is a contra account to the Common Stock.  It represents the shares of common stock repurchased.  Two methods are prevalent in reporting transactions in treasury stock.  They are the the cost method, which reports all treasury stock transactions in the Treasury Stock account.

The other method is the par value method.  This method reports only the par value transactions of treasury stock in the Treasury Stock account.  The above or below par value aspects of each transaction is then taken to the Additional Paid-in Capital account.

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3 years ago
Mo Meek, Lu Ling, and Barb Beck formed the MLB Partnership by making capital contributions of $79,200, $308,000, and $492,800, r
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which subject questions

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3 years ago
According to current law, for works created after 1976, what are the copyright durations for a creator and for a corporation?
Elenna [48]
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For the creator, the copyright duration is the lifetime of the author plus 50 years.
For a corporation, the copyright duration is 75 years.

Details:
The copyright Act of 1976 was a revision of the previous copyright Act of 1988.
Another revision enacted by the 1976 copyright law was to increase the extension of copyrighted material before 1978 that was not in the public domain. The increase was from 28 to 47 years or a total duration of 75 years.
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3 years ago
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